The Epic American Credit and Bond Bubble Laboratory Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: mishedlo who wrote (24046)	1/5/2005 11:20:27 AM
From: russwinter	Read Replies (1) of 110194

A big drop in the purchase index to 417 from 484 even before the latest rate pop, bears close watching for the trend. ARMS are now running 4.17, so maybe people are getting a bit more cautious and aware that low rates are no guarantee? WASHINGTON, D.C. (January 5, 2004)— The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending December 31. The Market Composite Index - a measure of mortgage loan application volume - was 605.7, a decrease of 10.6 percent on a seasonally adjusted basis from 677.4 one week earlier. On an unadjusted basis, the Index decreased 9.4 percent compared with last week but was up 0.2 percent compared with the same week one year earlier. During the holiday-shortened week, the MBA seasonally adjusted Purchase Index decreased by 13.7 percent to 417.3 from 483.8 the previous week. The seasonally adjusted Refinance Index decreased by 5.7 percent to 1701.3 from 1803.9 one week earlier. Other seasonally adjusted index activity included the Conventional Index, which decreased 10.8 percent to 898.4 from 1006.7 the previous week. The Government Index decreased 8.2 percent to 117.3 from 127.8 the previous week. The refinance share of mortgage activity increased to 48.0 percent of total applications from 46.2 percent the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 32.6 percent from 33.8 percent of total applications. The average contract interest rate for 30-year fixed-rate mortgages decreased to 5.67 percent from 5.72 percent one week earlier, with points increasing to 1.35 from 1.33 the previous week (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The average contract interest rate for 15-year fixed-rate mortgages remained at 5.12, with points decreasing to 1.25 from 1.32 (including the origination fee) for 80 percent LTV loans. The average contract interest rate for one-year ARMs increased to 4.17 percent from 4.05 percent one week earlier, with points remaining at 0.98 (including the origination fee) for 80 percent LTV loans.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next